Ontario Crackdown on Crypto Exchanges Continues With Binance Leaving the Province
As part of Binance’s continuing compliance efforts, they updated its Terms of Use to provide that Ontario (Canada) has become a restricted jurisdiction, effective 2021-06-26 at 3:59:59 AM (UTC). Binance can no longer continue to service Ontario-based users.
Crypto Exchange Binance Exits Canada’s Ontario
Binance, which is one of the world’s leading cryptocurrency exchanges by daily volume, has updated customers on a change that concerns crypto traders in Ontario. The Canadian province is now a restricted jurisdiction, the company announced this week.
In a press release, Binance explains the move is part of its continuing compliance efforts. “Binance has updated its Terms of Use to provide that Ontario (Canada) has become a restricted jurisdiction, effective 2021-06-26 at 3:59:59 AM (UTC),” the exchange said, adding:
“Regrettably, Binance can no longer continue to service Ontario-based users… We apologize for any inconvenience caused.”
The platform advised cryptocurrency traders in Canada’s most populous region to “take immediate measures to close out all active positions by December 31, 2021.”
